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									Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2           1

WorkSHEET 3.2 Consumer credit and investments
                                                                   Name __________________________
                                                                                                             /50
1     How much does an investment of $500 amount           PRT                                                4
                                                       I
      to if invested for 3 years at 6% per annum given      100
      simple interest is paid?                         I  ?,    P  $500,             R  6% p.a.,
                                                       T  3 years
                                                           500  6  3
                                                       I
                                                              100
                                                       I  $90
                                                       Amount = 500 + 90
                                                                = $590


2     The advertisement states ‘Simple interest at a              PRT                                         5
      rate of 8% per annum’. For how long should            I
                                                                   100
      $750 be invested to earn $240 interest?               I    $240,     P  750,        R  8% p.a.,
                                                           T     ?
                                                                  I  100
                                                           T    
                                                                  P  R
                                                                  240  100
                                                            T   
                                                                    750  8
                                                            T    4 years



3     Margaret decides to buy $20 000 worth of                    PRT                                         4
                                                            I
      debentures in a cosmetic company. The terms                  100
      of the investment are 8.5% per annum simple          I     ?,    P  $20 000,        R  8.5% p.a.,
      interest paid to her half yearly. How much will      T     2 years
      Margaret earn if the period of the debenture is             20 000  8.5  2
      2 years?                                              I   
                                                                        100
                                                            I    $3400
Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2         2

4     Julianna received $2.65 in interest on her           Interest Rate (R)                                5
      savings account for the month of August. If               PRT
                                                            I
      Julianna had $530 for the whole of August,                 100
      calculate the simple interest rate offered by the     I  2.65,       P  $530,         R  ?,
      bank per annum.                                            1
                                                           T       year
                                                                12
                                                                I  100
                                                            R
                                                                 P T
                                                                2.65  100
                                                            R
                                                                 530  121

                                                            R  6% per year


5     At the start of May, Jack has $499 in his                PRT                                          4
      passbook savings account. On his birthday, the        I
                                                                100
      6th of May, his parents give him $50 which he         I ?            P  $499  $50  $225  $324,
      deposits into his account. He buys a new bike                            1
      for $225 on the 20th of May. If the bank pays        R  4% p.a., T  years
                                                                               2
      4% p.a. simple interest paid monthly on the
                                                               324  4  12
                                                                          1
      minimum monthly balance, calculate the               I
      interest that Jack receives for May.                         100
                                                           I  $1.08



6     The Jones family sell their home for $195 000. (a)         Commission                                 6
      The commission on the sale is 5% of the first              = 5% of $18 000 + 2.5% of
      $18 000 plus 2.5% of the remainder of the sale                               ($195 000 – $18 000)
      price. A 10% GST charge is then applied to the             = 5% of $18 000 + 2.5% of $177 000
      agent’s commission.                                        = $900 + $4425
      Calculate:                                                 = $5325
      (a) the agent’s commission
      (b) the GST charged                            (b)         GST = 10 % of $5325
      (c) the money the Jones family will receive                    = $532.50
            from the sale.
                                                     (c)         Money received from sale
                                                                 = $195 000 – $5325 – $532.50
                                                                 = $189 142.50


7     The Stamp Duty due on the Jones’ house                          Sale price  $195 000                 5
      transfer of ownership is payable at the rate of      No. of lots of $100  $195 000  $100
      $1 per $100 or part of $100, based on the
                                                                                 1950
      purchase price. This money is paid by the
      purchaser.                                                   Stamp Duty  $1 1950
      What will the purchaser pay for the Jones’                                 $1950
      house?                                                     Total payable  $195 000  $1950
                                                                                 $196 950
Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2        3

8     Fran bought 500 shares at $3.75 each.            (a)       Cost of shares = $3.75  500              6
      Brokerage on these shares is payable at the rate                          = $1875
      of 2.5% of their value, or a minimum charge of
      $60.                                             (b)       Brokerage = 2.5% of $1875
      Calculate:                                                             = $46.88
      (a) the cost of the shares                                 This is less than the minimum charge
      (b) the cost of brokerage                                  of $60.
      (c) what the purchase of the shares will cost              So brokerage payable is $60.
            Fran.
                                                       (c)       Cost to Fran = $1875 + $60
                                                                              = $1935


9     Fran’s shares paid a yearly dividend of 2.5          (a)   Total dividend = 2.5  500                6
      cents per share.                                                          = $12.50
      Calculate:
      (a) the total dividend received                      (b)   Dividend yield
      (b) the dividend yield                                         dividend per share
                                                                                         100%
      (c) the Price-Earnings Ratio.                                market price per share
                                                                    2.5c
                                                                        100%
                                                                   $3.75
                                                                   2.5c
                                                                        100%
                                                                   375c
                                                                  0.67%

                                                                                 market price per share
                                                           (c)   P  E Ratio 
                                                                               yearly dividend per share
                                                                               $3.75
                                                                             
                                                                                2.5c
                                                                               375c
                                                                             
                                                                                2.5c
                                                                              150


10    A company has an after-tax profit of $8 million. Dividend = $8 000 000  85 000 000                  5
      If the company decides to distribute all of this          = $0.094
      profit to its shareholders who collectively own
      85 million shares, what dividend per share will So, the dividend per share is 9 cents.
      the shareholders receive?

								
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